Shares of InterGlobe Aviation, the operator of IndiGo, declined more than 3 per cent on Thursday as the airline continued to grapple with significant disruption to its flight network across India.
The company’s stock touched Rs 5,405 in early trade, its weakest level in over five months, marking a second consecutive day of losses.
The airline has been facing one of its most challenging operational periods in recent times, having cancelled close to 200 services on Wednesday alone.
The cancellations primarily stemmed from a sharp shortfall in crew, especially pilots, after revised Flight Duty Time Limitation regulations, enforced last month.
Under the updated norms, airlines must offer more adequate rest and improved working conditions for crew, leading to scheduling difficulties for IndiGo as it attempts to rapidly reconfigure its operations.
The fallout continued into Thursday, with around 73 flights grounded at Kempegowda International Airport in Bengaluru, leaving passengers facing further delays and frustration.
IndiGo Issues Apology as Disruptions Persist
IndiGo issued a statement expressing regret for the large number of cancellations and acknowledged that travellers had endured severe inconvenience over the past two days.
The carrier noted that a mix of operational hurdles, including minor technical issues, seasonal timetable changes, poor weather, rising airport congestion, and revised crew rostering requirements, all contributed to a situation that was challenging to foresee.
To restore stability, IndiGo said it has implemented controlled schedule changes for the next 48 hours, which it believes will support a gradual improvement in on-time performance and help normalise services.
Meanwhile, the Directorate General of Civil Aviation has begun a formal inquiry into the crisis.
The regulator has sought a comprehensive explanation from the airline regarding the root causes of the disruptions and the steps being taken to reduce future cancellations.
Prior to the latest slump, IndiGo’s shares slipped nearly 2 per cent on Tuesday to close at Rs 5,595.50.
Although the stock has dropped almost 6 per cent over the past week, it remains slightly higher compared with levels seen six months ago.
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